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Forex: USD/CHF Technical Analysis – Selloff Slows Below 0.89 Mark

Forex: USD/CHF Technical Analysis – Selloff Slows Below 0.89 Mark

2013-12-12 10:01:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices broke support in the 0.8889-0.8901 area (Oct 24 low, 61.8% Fib exp.)
  • Sellers now target 0.8818 (76.4% Fib exp.); below that exposes 0.8685 (100% Fib)
  • Turning above 0.8901 targets 0.8934 (channel bottom), 0.8967 (50% Fib exp.)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-chf_body_Picture_10.png, Forex: USD/CHF Technical Analysis – Selloff Slows Below 0.89 Mark

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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